BUY at 2512.50
T/P: 2517.50
S/L: 2500.00
Summary of Technical Analysis for XAUUSD
As of 14:05 PM, the current price of XAUUSD is 2510.64 USD. Technical indicators show a mixed picture. On the 1-hour chart, most oscillators are neutral, with the Momentum indicator suggesting a Buy, while MACD and Awesome Oscillator indicate a Sell. The 4-hour chart also presents mixed signals, with Bull Bear Power suggesting a Buy and Momentum and MACD suggesting a Sell. Moving averages show short-term Buy signals but long-term MAs suggest a Sell. Pivot points indicate a Buy as the current price is above the Pivot Point on both 1-hour and 4-hour charts.
The forecast for XAUUSD predicts a short-term bearish correction, with potential for a rebound at 2485 USD. A break below 2480 USD could lead to a further decline towards 2435 USD. However, a price increase above 2545 USD may lead to significant growth towards 2645 USD. The short-term outlook is negative (SELL), but the longer-term potential remains bullish.
Recent news such as "This Gold Breakout Changes Everything" and "Dow Hits Record High, Nasdaq Dumps; Oil & Gold Jumps" suggest a positive impact on gold, while "Russia Launches Deadly Drone and Missile Strikes in Ukraine" indicates increased geopolitical uncertainty, which typically supports higher gold prices.
Upcoming events include the US S&P/CS Composite-20 HPI y/y and US CB Consumer Confidence, which could negatively impact gold if higher than expected, and the US Richmond Manufacturing Index, which might increase gold demand if lower than expected.
In summary, the current signal for XAUUSD is Neutral, with a stronger long-term Buy bias despite a short-term negative forecast. The probability for Buy is estimated at 60%, while Sell is at 40%.
#XAUUSD hit T/P 1 Price with +500 PIPs Profit